Keefe, Bruyette & Woods set a $17.00 price target on Ellington Financial (NYSE:EFC) in a research note issued to investors on Saturday morning. The firm currently has a hold rating on the financial services provider’s stock.
Other equities research analysts also recently issued research reports about the stock. B. Riley downgraded shares of Ellington Financial from a buy rating to a neutral rating and lowered their price objective for the stock from $17.50 to $16.00 in a research report on Wednesday, November 8th. Deutsche Bank lowered their price objective on shares of Ellington Financial from $18.00 to $17.00 and set a buy rating for the company in a research report on Wednesday, November 8th. Zacks Investment Research downgraded shares of Ellington Financial from a hold rating to a strong sell rating in a research report on Thursday, November 9th. ValuEngine raised shares of Ellington Financial from a hold rating to a buy rating in a research report on Friday, December 1st. Finally, Sandler O’Neill initiated coverage on shares of Ellington Financial in a research report on Wednesday, December 6th. They set a buy rating and a $17.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $17.25.
Shares of Ellington Financial (NYSE EFC) opened at $14.88 on Friday. The company has a quick ratio of 3.90, a current ratio of 3.90 and a debt-to-equity ratio of 1.91. The firm has a market cap of $474.76, a price-to-earnings ratio of 14.17 and a beta of 0.36. Ellington Financial has a twelve month low of $14.19 and a twelve month high of $17.00.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 11.02%. The ex-dividend date is Wednesday, February 28th. Ellington Financial’s dividend payout ratio is 156.19%.
Several hedge funds have recently modified their holdings of EFC. Wasatch Advisors Inc. bought a new stake in shares of Ellington Financial during the fourth quarter worth $222,000. Edge Wealth Management LLC grew its position in Ellington Financial by 640.0% in the fourth quarter. Edge Wealth Management LLC now owns 18,500 shares of the financial services provider’s stock valued at $267,000 after purchasing an additional 16,000 shares in the last quarter. Goldman Sachs Group Inc. bought a new position in Ellington Financial in the second quarter valued at $405,000. BB&T Securities LLC grew its position in Ellington Financial by 21.4% in the third quarter. BB&T Securities LLC now owns 57,249 shares of the financial services provider’s stock valued at $903,000 after purchasing an additional 10,107 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in Ellington Financial in the second quarter valued at $1,245,000. 43.16% of the stock is owned by institutional investors.
About Ellington Financial
Ellington Financial LLC is a specialty finance company that acquires and manages mortgage-related and other financial assets. The Company’s targeted assets include residential mortgage-backed securities (RMBS), backed by loans for which the principal and interest payments are not guaranteed by a United States Government agency or a United States Government-sponsored entity, collectively referred to as non-Agency RMBS; RMBS for which the principal and interest payments are guaranteed by the United States government agency or the United States government-sponsored entity (Agency RMBS); consumer loans and asset-backed securities (ABS) backed by consumer loans; commercial mortgage-backed securities (CMBS) commercial mortgage loans and other commercial real estate debt; residential mortgage loans; collateralized loan obligations (CLOs); corporate debt and equity, including distressed debt and equity, and mortgage-related derivatives.
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